Silicone Elastomer Market Size, Share & Trends Report

Silicone Elastomer Market Size, Share & Trends Analysis Report By Product (HTV, RTV, LSR), By Application (Electrical & Electronics, Automotive & Transportation, Industrial Machinery, Consumer Goods), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-449-9
  • Number of Pages: 120
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the silicone elastomer market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for silicone elastomer market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of silicone elastomer market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Silicone Elastomer Market Categorization:

The silicone elastomer market was categorized into four segments, namely product (Black Silicon Carbide, Green Silicon Carbide), application (Steel, Automotive, Aerospace, Military & Defense, Electrical & Electronics, Healthcare), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The silicone elastomer market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The silicone elastomer market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into five countries, namely, the U.S.; Germany; China; India; Brazil

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Silicone elastomer market companies & financials:

The silicone elastomer market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • China National BlueStar (Group) Co., Ltd. China National BlueStar (Group) Co., Ltd. was established in 1984 and is headquartered in Beijing, China. It is a specialty chemical and chemical materials company under Sinochem Holding Co., Ltd. The company's major business segment includes animal nutrition and new chemical materials. It has 27 scientific research institutions, 59 factories, three overseas enterprises, and others. The company has a presence across 200 countries. The material sciences segment offers silicone materials, special fibers, engineering plastics, and basic chemical engineering. The company manufactures and offers silicone, animal nutrition materials, chemical materials, methionine, and more. As of July 2022, it has 20,000 employees.

  • Dow Inc. Dow Inc. was established in 2019 after it separated from Dupont. The company is headquartered in Midland, U.S. Dow Inc. and DuPont disclose their financials and investment details as separate entities. Dow Inc. operates through three segments: industrial intermediates & infrastructure; performance materials & coatings; and packaging & specialty plastics. The company caters its products to various end-use industries such as consumer goods, healthcare, food & beverage, personal care, construction, life sciences, paints & coatings, and paper. The company has 113 manufacturing facilities in countries, including the U.S., India, Thailand, and South Africa, and caters its products to 31 countries.

  • KCC Corporation KCC Corporation was founded in 1958 and is headquartered in Seoul, South Korea. The company manufactures and distributes silicones, adhesives, paints, coatings, building materials, and window profiles. The company operates in five business areas such as building materials, windows, coatings, silicone, and advanced materials. The silicone business engages in the manufacturing of sealant, Silane/Fluid, Emulsion, HTV, LSR, RTV, PRC, and PSA for various applications in automotive, building & construction, food & beverage, transportation, healthcare, electrical & electronics, renewable energy, and consumer goods industries It has a presence in the U.S., China, India, Japan, UAE, Malaysia, Germany, and various others, which are spread across North America, South America, Europe, Asia Pacific, and the Middle East & Africa.

  • Shin-Etsu Chemical Co., Ltd. Shin-Etsu Chemical Co., Ltd. was established in 1926 and is headquartered in Tokyo, Japan. It is engaged in the production of specialty chemicals. The company operates through six business segments, namely PVC/chlor-alkali business, semiconductor silicon business, silicones business, electronics and functional materials, specialty chemicals, processing, and trading services. It offers products and services for industries like electronics, construction, automotive, transportation, personal and healthcare, agriculture, and food processing. The company has a presence in 20 countries including the U.S., Brazil, the UK, the Netherlands, Hungary, Germany, India, Thailand, China, South Korea, and various others spread across North & South America, Europe, and Asia Pacific. It has over 25000 employees.

  • Wacker Chemie AG Wacker Chemie AG was established in 1914 and is headquartered in Munich, Germany. The company is primarily engaged in the manufacturing of polymers and specialty chemicals. It operates through four business segments like silicones, polymers, bio-solutions, and polysilicon. The company offers its products & services to various industries including aerospace, agrochemical solutions, automotive & transportation, electrical & electronics, personal care, textile & leather, renewable energy, food & beverages, healthcare, and others. Its product portfolio has more than 3,200 products. The company produces elastomer gels in silicones business segment under BELSIL. It has 24 manufacturing facilities and a presence in more than 100 countries spread across North America, South America, Europe, Asia Pacific, and the Middle East. As of December 2019, the company has 14,658 employees.

  • MESGO S.p.A MESGO S.p.A was established in 1996 and is headquartered in Gorlago, Italy. The company is engaged in the production of synthetic rubber compounds and thermoplastics. It specializes in elastomers composed of fluorine, silicone, synthetic & natural rubber, providing industrial, consumer goods, automotive, and transportation industries with standard and special elastomers to run different operations and make rubber products. Silicone compounds are produced in Çayırova (Turkey) and Gorlago Tomaszòw Mazowiecki (Poland) plants with an installed total production capacity of 19,300 tons per year. The major industries the company serves include transportation, oil & gas, agriculture, automotive, aerospace, and energy.

  • Specialty Silicone Products, Inc. Specialty Silicone Products, Inc. was established in 1989 and is headquartered in New York, the U.S. The company is primarily engaged in manufacturing silicon-based products. It offers its products & services to various industries including electrical & electronics, personal care, military, pharmaceuticals, and others. The company's Product portfolio includes EMI RFI conductive elastomers, aero silicones, USP class vi silicones, silicone membranes, and silicone lubricants. It is an ISO 9001:2008 certified company.

  • Stockwell Elastomerics, Inc. The company was established in 1919, and its headquarters are located in Philadelphia, U.S. The company's product portfolio includes silicone rubber, sponge, foam, solid sheets, adhesives, and others. It caters to industries including aerospace & defense, spacecraft & space vehicles, LED lighting, telecom, etc. The company's production and service capabilities include die cutting, compression & transfer molding, silicone injection molding, silicone rubber bonding, and lamination of pressure sensitive adhesive.

  • Momentive Performance Materials, Inc. Momentive Performance Materials, Inc. was founded in 2014 and headquartered in New York, U.S. The company is involved in the manufacturing of silicone & silicone derivatives and advanced materials. It delivers science-based solutions and sells & distributes specialty silicones, silanes, and urethane additives. The company caters its products to various industries including aerospace, automotive, agriculture, construction, consumer goods, electrical & electronics, medical, packaging, and oil & gas. The company offers various products for the automotive industry, such as acrylic monomers, ceramics, epoxy resins, quartz, silicones, and their derivatives, which are used in interior applications such as seating, insulation, and electronic systems. It provides a portfolio of silicone elastomers for various applications such as transmission, electrical, transportation, and consumer goods. The company also produces hard coats, weather-strip, electrode coatings, and plastic additives. It is a subsidiary of MPM Intermediate Holdings, Inc.

  • Reiss Manufacturing, Inc. The company was established in 1896 and headquartered in Virginia, the U.S. It manufactures silicone rubber and plastics. The company's business is segregated into verticals including silicone rubber and thermoplastic extrusion divisions. Its capabilities include prototyping & design assistance, formulating & compounding, custom milling & mixing, rubber molding, fabricating, calendaring, testing, and others. The company caters to industries including aerospace, appliances, automotive, construction, electrical & lighting, heating & insulation, and others.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Silicone Elastomer Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Silicone Elastomer Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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